Strong Financial Performance
Adjusted EBITDA rose to $1.24 billion, exceeding the midpoint of guidance, and full-year adjusted EBITDA is expected to exceed $4.7 billion.
Record Orders in Industrial and Energy Technology (IET)
IET achieved orders of $4.1 billion in Q3, with a record backlog of $32.1 billion. Full-year IET orders are expected to exceed prior expectations.
Growth in Power Generation and LNG
Secured $800 million in power generation orders and $800 million in LNG equipment orders, with strong visibility into future projects.
Strategic Acquisition of Chart Industries
The acquisition is set to enhance Baker Hughes' capabilities in LNG, data centers, and gas infrastructure, with expected cost synergies of $325 million.
Positive Outlook for Natural Gas
Natural gas demand is expected to grow by 20% by 2040, with LNG demand increasing by 75%, presenting a favorable environment for Baker Hughes.